SGX: Cynical investors?

Several large multinational companies based in Europe or North America are considering listing in Singapore after insurer Prudential of the UK, SGX said on Monday.

“We have already had inquiries from [other] large global firms based in the western hemisphere … It’s not really surprising because these people want global exposure … If you are looking at a pure China exchange you will probably want to list in Shanghai or Hong Kong. But if you are looking at a more pan-Asian exposure, I think Singapore would probably be in very good shape.”

SGX declined to name any of the western companies that had approached it.

Err market obviously does not believe SGX as at the lunch break today, SGX shares are down 1.3%. Either that or market believes that these listings will not materalise, or if they do, will not make a difference.

Try harder SGX and fail harder. Misquoting Beckett.

However, he said the Pru’s decision to list in Singapore alongside Hong Kong and London was being watched “very closely” by other large western companies whose revenues in Asia were rising rapidly.